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MKS: Jobs Data May Provide More Near-Term Headwinds For Gold
Tuesday, 8 August 2017 03:59 WIB | GOLD CORNER |

Gold is modestly softer and could see some more short-term pressure after the stronger-than-forecast rise of 209,000 in July U.S. nonfarm payrolls reported on Friday, says MKS (Switzerland) S.A.

Spot metal was trading down $2.15 to $1,256.25 an ounce as of 7:52 a.m. EDT.

˜˜With analysts increasing the odds of a December rate hike in the U.S. following Friday™s jobs report, we are likely to see bullion trade under pressure over the near term while the market seeks out further directional cues,™˜ says Sam Laughlin, senior trader of precious metals.

Source: Kitco

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POPULAR NEWS
Oil sees end-of-week bounce, but suffers hefty weekly loss

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